Chinachem wins $150m loan for social projects

Chinachem Group has won its first socially responsible loan worth HK$150 million from Standard Chartered.

The developer said it is committed to financing social projects such as community investment and engagement, culture and heritage preservation, affordable housing, and development of age-friendly and inclusive buildings.

It also unveiled an enhanced sustainable finance framework which extends the coverage of its existing green finance framework, further aligning it to the United Nations Sustainable Development Goals.

Chinachem chief executive Andy Cheung Lee-ming said a more comprehensive and robust sustainable finance framework "further strengthens the governance of our financial decision-making process, bringing us closer to our goal of creating long-term value for our stakeholders and the communities we serve."

June Chen